Forwarded from ExamGround (Aman Agarwal)
New Development Bank
* It is a multilateral development bank operated by the BRICS states(Brazil, Russia, India, China and South Africa).
* It was established in 2014, at the 6th BRICS Summit at Fortaleza, Brazil.
* The bank is set up to foster greater financial and development cooperation among the five emerging markets.
* The bank’s primary focus of lending will be infrastructure projects.
* The bank headquarters located in Shanghai, China.
* Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.
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* It is a multilateral development bank operated by the BRICS states(Brazil, Russia, India, China and South Africa).
* It was established in 2014, at the 6th BRICS Summit at Fortaleza, Brazil.
* The bank is set up to foster greater financial and development cooperation among the five emerging markets.
* The bank’s primary focus of lending will be infrastructure projects.
* The bank headquarters located in Shanghai, China.
* Unlike the World Bank, which assigns votes based on capital share, in the New Development Bank each participant country will be assigned one vote, and none of the countries will have veto power.
T.me/cdsexamground
#article71_afcat
#article72 #cdsexam #afcatexam
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